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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported): July 27, 2004 TRANSOCEAN INC. (Exact name of registrant as specified in its charter) CAYMAN ISLANDS 333-75899 66-0587307 (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 4 GREENWAY PLAZA HOUSTON, TEXAS 77046 (Address of principal executive offices and zip code) Registrant's telephone number, including area code: (713) 232-7500

ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. EXHIBIT NUMBER DESCRIPTION - -------------- ----------- 99.1 Transocean Inc. Monthly Fleet Update ITEM 9. REGULATION FD DISCLOSURE. Transocean Inc. (the "Company") issues a monthly report entitled "Monthly Fleet Update," which includes drilling rig status and contract information, including contract dayrate and duration. This month's report is dated as of July 27, 2004 and is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. You may also subscribe to the free Transocean Financial Report Alert which will alert you to new Monthly Fleet Updates. This service will send you an automated email which will provide a link directly to the web page containing the updated report. You may subscribe to this service at the "Investor Relations / Email Alerts" section of the site by selecting "Transocean Financial Report Alert" and providing your email address. The Company's website may be found at www.deepwater.com. The statements made in the Monthly Fleet Update that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Monthly Fleet Update include, but are not limited to, statements involving the estimated duration of client contracts, contract dayrate amounts and future contract commencement dates and locations. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore and U.S. inland marine oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, the Company's ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, political and other uncertainties inherent in non-U.S. operations (including the risk of war and civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in the Company's Form 10-K for the year ended December 31, 2003 and in the Company's other filings with the SEC, which are available free of charge on the SEC's website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements. 2

The information in Item 9 of this report, including Exhibit 99.1, is being furnished, not filed. Accordingly, the information in Item 9 of this report will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference. The furnishing of the information in this report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company. 3

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. TRANSOCEAN INC. Date: July 27, 2004 By: /s/ Eric B. Brown --------------------------------- Name: Eric B. Brown Title: Senior Vice President, General Counsel and Corporate Secretary 4

INDEX TO EXHIBITS Exhibit Number Description -------------- ----------- 99.1 Transocean Inc. Monthly Fleet Update

EXHIBIT 99.1 (TRANSOCEAN LOGO) The information contained in this Monthly Fleet Update report (the "Information") is as of the date of the report only and is subject to change without notice to the recipient. Transocean Inc. assumes no duty to update any portion of the Information. DISCLAIMER. NEITHER TRANSOCEAN INC. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED "AS IS." Neither Transocean Inc. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom. NO UNAUTHORIZED PUBLICATION OR USE. All information provided by Transocean Inc. in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean Inc. CLIENT CONTRACT DURATION AND DAYRATES AND RISKS ASSOCIATED WITH OPERATIONS. The duration of the client contracts is the estimated duration only, and client contracts are subject to cancellation or suspension for a variety of reasons, including some beyond the control of Transocean Inc. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean Inc. Our client contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC's website at www.sec.gov. NEW FLEET CLASSIFICATION. Transocean Inc. has created a new rig classification to its listing of semisubmersible rigs and drillships to better reflect the company's strategic focus on the ownership and operation of premium, high specification floating rigs. The new rig classification, "High Specification Fleet," is comprised of "5th Generation Deepwater," which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths in excess of 7,000 feet, "Other Deepwater," which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet and "Other High Specification," comprised of four of the company's premium harsh environment rigs, the semisubmersibles Henry Goodrich, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The previous category entitled "Mid-water Fleet" has been renamed "Other Floaters," which represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. This report does not include contract status information for the fleet of TODCO, a publicly traded drilling company in which Transocean owns a majority interest. Page 1

(TRANSOCEAN LOGO) Transocean Inc. (NYSE: RIG) Monthly Fleet Update Updated : July 27, 2004 NEW CONTRACTS AND CONTRACT EXTENSIONS NOTED IN BOLD - -------------------------------- | DYNAMICALLY POSITIONED = * | - -------------------------------- CURRENT CURRENT PREVIOUS YR. WATER CONTRACT CONTRACT CONTRACT FLOATER ENTERED DEPTH DRILLING START/IDLE ESTIMATED(2) DAYRATE DAYRATE RIG TYPE/NAME TYPE SERVICE(1) (FT.) DEPTH LOCATION CLIENT DATE EXPIRATION (3) (3) ------- ---------- ------- -------- -------- ------------- ---------- --------------- -------- -------- HIGH SPECIFICATION FLOATERS: 5th GENERATION DEEPWATER(13) - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Discoverer Deep Seas ship * 2001 10,000 35,000 USGOM ChevronTexaco Jan-01 Jan-06 $205,000 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Discoverer Enterprise ship * 1999 10,000 35,000 USGOM BP Dec-99 Dec-04 $198,600 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- USGOM BP Dec-04 Dec-07 $182,500 $198,600 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Discoverer Spirit ship * 2000 10,000 35,000 USGOM Unocal Sep-00 Sep-05 $204,000 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Discovery ship * 2000 10,000 30,000 Nigeria ChevronTexaco Jul-04 Oct-04 $165,000 $165,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Nigeria ExxonMobil Oct-04 Nov-04 $170,000 $165,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Frontier ship * 1999 10,000 30,000 Brazil Petrobras Mar-04 Jan-06 $145,000 $158,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Millennium ship * 1999 10,000 30,000 USGOM Kerr-McGee Jul-04 Sep-04 $195,000 $130,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Pathfinder ship * 1998 10,000 30,000 E. Canada Marathon Jun-04 Sep-04 $157,300 $135,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Expedition (9) ship * 1999 10,000 30,000 Brazil Petrobras Oct-99 Sep-05 $135,000 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Horizon semi * 2001 10,000 30,000 USGOM BP Sep-01 Sep-04 $200,000 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- USGOM BP Sep-04 Sep-05 $165,000 $200,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Cajun Express semi * 2001 8,500 25,000 USGOM ChevronTexaco Jul-04 Aug-04 $150,000 $ 90,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Dominion Sep-04 Oct-04 $125,000 $150,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- USGOM Dominion Oct-04 May-05 $140,000 $150,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Nautilus (4) semi 2000 8,000 30,000 USGOM Shell Jun-00 Jun-05 $201,800 N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco Energy semi * 2001 7,500 25,000 Nigeria ChevronTexaco May-03 Oct-04 $186,400 $181,400 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco Express (9) semi * 2001 7,500 25,000 Brazil Petrobras Jan-03 Aug-04 $125,000 $110,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- OTHER DEEPWATER (15) - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Deepwater Navigator ship * 2000 7,200 25,000 Brazil Petrobras Jul-03 Aug-04 $ 94,300 $ 99,300 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Discoverer 534 ship * 1975/1991 7,000 25,000 India Reliance Dec-03 Sep-04 $110,000 $110,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Discoverer Seven Seas ship * 1976/1997 7,000 25,000 India ONGC Feb-04 Feb-07 $125,000 $125,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Marianas semi 1998 7,000 25,000 USGOM Kerr-McGee May-04 Aug-04 $ 85,000 $ 75,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- USGOM Nexen Aug-04 Oct-04 $ 90,000 $ 85,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 707 (9) semi * 1976/1997 6,500 25,000 Brazil Petrobras Feb-04 Nov-05 $100,000 $100,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Jack Bates (9) semi 1986/1997 5,400 30,000 UKNS Aug-04 planned mobilization $125,000 to Australia - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Australia Santos Sep-04 Oct-04 $125,000 $125,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Peregrine I (5) ship * 1996 5,280 25,000 Brazil Apr-04 idle $ 70,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 709 semi * 1977/1999 5,000 25,000 Nigeria Jul-04 planned 45-day $150,000 shipyard stay - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- M.G. Hulme, Jr. (6) semi 1983/1996 5,000 25,000 Nigeria Total Aug-04 Sep-04 $ 85,000 $125,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Richardson semi 1988 5,000 25,000 Ivory CNR Oct-03 Oct-05 $ 85,000 $ 45,000 Coast - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Jim Cunningham semi 1982/1995 4,600 25,000 Egypt Jul-04 idle $ 67,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 710 (9) semi * 1983 4,500 25,000 Brazil Petrobras Oct-01 Oct-06 $109,500 $ 71,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Rather semi 1988 4,500 25,000 Angola ChevronTexaco Jun-04 Aug-04 $ 95,000 $ 99,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Leader (10) semi 1987/1997 4,500 25,000 Norway Jul-04 operations disrupted by labor strike - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Norway Statoil $173,500 $107,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sovereign Explorer semi 1984 4,500 25,000 Las Palmas May-04 contract preparation/ $ 85,000 mobilization - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Trinidad British Gas Sep-04 Oct-04 $ 65,000 $ 85,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Venezuela Statoil Nov-04 Feb-05 $ 65,000 $ 65,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Trinidad British Gas Feb-05 Aug-05 $ 65,000 $ 65,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- OTHER HIGH SPECIFICATION (4) - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Henry Goodrich semi 1985 2,000 30,000 E. Canada Terra Nova Feb-04 Feb-05 $106,600 $116,600 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Paul B. Loyd, Jr. semi 1987 2,000 25,000 UKNS BP Mar-04 Mar-05 $120,000 $107,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- UKNS BP Mar-05 Mar-07 $144,000 $120,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Arctic semi 1986 1,650 25,000 NNS Mar-04 shipyard program - $200,000 contract preparation - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- NNS Statoil Aug-04 May-06 $168,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Polar Pioneer semi 1985 1,500 25,000 NNS Jul-04 operations disrupted by labor strike - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Norsk Hydro Jan-04 $110,200 $106,400 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- NNS Aug-04 21-day planned shipyard program - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- NNS Statoil $170,000 $110,200 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Inc. 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(TRANSOCEAN LOGO) Transocean Inc. (NYSE: RIG) Monthly Fleet Update Updated : July 27, 2004 NEW CONTRACTS AND CONTRACT EXTENSIONS NOTED IN BOLD - -------------------------------- | DYNAMICALLY POSITIONED = * | - -------------------------------- CURRENT CURRENT PREVIOUS YR. WATER CONTRACT CONTRACT CONTRACT FLOATER ENTERED DEPTH DRILLING START/IDLE ESTIMATED(2) DAYRATE DAYRATE RIG TYPE/NAME TYPE SERVICE(1) (FT.) DEPTH LOCATION CLIENT DATE EXPIRATION (3) (3) ------- ---------- ------- -------- -------- ------------- ---------- --------------- -------- -------- OTHER FLOATERS (25) - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Peregrine III ship * 1976 4,200 25,000 USGOM idle N/A - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 700 semi 1973/1997 3,600 25,000 E. Guinea A. Hess Oct-03 Dec-04 $ 84,000 $ 84,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Legend semi 1983 3,500 25,000 Brazil May-04 idle $ 55,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Amirante semi 1978/1997 3,500 25,000 USGOM Feb-02 idle $ 50,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- C. Kirk Rhein, Jr. semi 1976/1997 3,300 25,000 USGOM Mar-02 idle $ 63,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Driller (9) semi 1991 3,000 25,000 Brazil Petrobras Apr-04 Aug-04 $ 52,000 $ 55,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Falcon 100 semi 1974/1999 2,400 25,000 USGOM Sep-03 idle $ 42,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 703 semi 1973/1995 2,000 25,000 Australia ChevronTexaco Jul-04 Aug-04 $ 72,500 $ 75,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Australia Woodside Aug-04 Sep-04 $ 77,000 $ 72,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Australia Antrim Sep-04 Oct-04 $ 77,000 $ 77,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Australia Apache Oct-04 Nov-04 $ 73,700 $ 77,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Australia BHPB Nov-04 Dec-04 $ 75,000 $ 73,700 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 711 semi 1982 1,800 25,000 UKNS Shell Apr-04 Dec-04 $ 45,100 $ 43,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean John Shaw semi 1982 1,800 25,000 UKNS CNR Jul-04 Aug-04 $ 45,000 $ 50,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 712 semi 1983 1,600 25,000 UKNS Nov-03 idle $ 47,700 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 714 semi 1983/1997 1,600 25,000 UKNS British Gas Jun-04 Sep-04 $ 55,000 $ 44,500 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- UKNS British Gas Oct-04 Dec-04 $ 45,000 $ 55,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Actinia semi 1982 1,500 25,000 Enroute mobilization $ 44,000 to India - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 600 semi 1983 1,500 25,000 Russia BP Jul-04 Sep-04 $ 60,000 $ 52,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 601 semi 1983 1,500 25,000 Indonesia Santos Jul-04 Sep-04 $ 56,000 $ 75,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- (11) Indonesia Santos Sep-04 Oct-04 $ 66,000 $ 56,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Indonesia Unocal Oct-04 Dec-04 $ 66,000 $ 56,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedneth 701 semi 1972/1993 1,500 25,000 Angola ChevronTexaco Nov-03 Oct-04 $ 63,000 $ 55,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 702 semi 1973/1992 1,500 25,000 Australia Apr-03 idle $ 80,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Winner semi 1983 1,500 25,000 NNS Aug-02 idle $120,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Searcher semi 1983/1988 1,500 25,000 NNS Jul-04 operations disrupted by labor strike - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Statoil Jul-03 $103,800 $105,800 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- NNS Statoil $120,000 $103,800 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Prospect semi 1983/1992 1,500 25,000 UKNS Oct-02 idle $ 98,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Wildcat semi 1977/1985 1,300 25,000 UKNS Oct-01 idle $ 85,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Explorer semi 1976 1,250 25,000 UKNS Jan-99 idle $145,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- J.W. McLean semi 1974/1996 1,250 25,000 UKNS ConocoPhillips Jul-04 Nov-05 $ 51,000 $ 60,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 704 semi 1974/1993 1,000 25,000 UKNS ChevronTexaco May-04 Sep-04 $ 55,000 $ 45,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- UKNS Venture Sep-04 Oct-04 $ 52,000 $ 55,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Venture Nov-04 Nov-04 $ 47,000 $ 52,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Venture Dec-04 Jan-05 $ 45,000 $ 47,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Sedco 706 semi 1976/1994 1,000 25,000 UKNS Sep-03 idle $ 57,000 - ---------------------- ---------- ------ ------- --------- ------------- ---------- ----------------- -------- -------- Transocean Inc. 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